Why You Are Not Converting More Prospects Into High-Paying Clients
Every day I receive calls from attorneys who believe that one of the things standing in their way to a thriving practice is their inability to close the business. They’re convinced that if they had a better way to close, all of their revenue problems would vanish. Some are on a relentless search for that one magic bullet or secret phrase that will bring the consultation to a successful ending.
Attorneys ask, Can you teach me to be a better closer? Can your Rainmaking Academy teach my attorneys how to close more business? My closing rates suck, can your coaching programs show me a better way to convert more of my marketing leads into paying clients?
The ability to move the deal forward has nothing to do with how to close. It has everything to do with how you positioned yourself throughout the consultation process.
If you are managing the conversation properly, closing should never be an obstacle, just the next step in a well-executed collaborative process.
Closing complications are a blatant symptom of a much bigger and more costly problem. Making adjustments to closing issues would be a colossal waste of time and money and only make matters worse. This would be the equivalent of putting a bandage on a bullet wound.
It’s easy to believe that closing is the problem when revenue is not increasing and clients are not retaining you.
The ability to convert and close relies heavily on the entire consultation process, not just what is said to a potential client at the end of the consultation. The real reason why ideal clients leave your office without retaining you is not because you don’t know how or when to close. People don’t retain you because the process that you are using during a consultation is outdated and out of sync with the way that the new legal consumer buys legal solutions. They don’t view you as the modern and updated attorney they are looking for.
Attorneys unknowingly attempt to close today’s savvy legal consumer using a process from the 1980s that has lost its effectiveness. The process is unproductive because it has not seen any innovation in decades. Yes, decades.
This obsolete process was created in a different time, in a different marketplace, and for a different consumer. Without an update, this massive and expensive issue will remain poor at best. You will have to get used to hearing; I need to think about it. I will get back to you. Your fees are too high.
The psychology behind closing techniques may have once been effective, but with smarter, more educated buyers, it now feels insulting. Stop focusing on the close, and start focusing on learning the modern and powerful skills that will help make closing easier—lead conversion skills.
The close is the easiest part of the process. Closing strong is a culmination of a well-managed and thorough execution of the entire consultation process, not an aspect of how well you dazzled someone with fancy closing language.
In every phone or e-mail request, I explain the many ways that I help attorneys improve closing rates. I tell them that if they want to convert more potential clients into paying clients, they must be committed to investing in a modern-day solution that aligns with today’s discerning legal consumer. Invest in understanding WHY and HOW people make decisions. Helping someone make a buying decision is extremely different than trying to close them.
Business is rarely lost at the end of a consultation or during the close. No one will ever say, James, you’re my first choice, and I would like to retain your services. Unfortunately, I can’t. You’re a crappy closer. Marie, I’m unable to retain you. I was hoping that you were going to be a more confident and powerful closer. Stan, you are the right attorney for me, but your closing skills are dreadful. This would never happen!
But without an update to your lead conversion process, you will continue to leave enormous amounts of money on the table and watch perfect clients walk out the door and retain the competition. You will continue to see money vanish before your eyes instead of profits pouring into your practice.
Here is what is at stake. Let’s say that an average client means an additional $5,000 to your practice. And two additional clients per month choose to hire you instead of your competition. This would net you an additional $10,000 per month, or $120,000 per year.
Give yourself an instant raise! Take that leap! You may soon start hearing, Who do I make the retainer check out to? I am ready to retain you now. When can we get started?